Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February 2 for $26,000 and then sells this inventory on account on March 17 for $46,000. Record transactions for the purchase and sale of inventory. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date February 02 Debit 26,000 Purchases Accounts Payable 26,000 March 17 Accounts Payable Purchases Purchase Discounts